HDFC MF bets on PB Fintech, buys stake worth Rs 321 crore as IRDAI reforms trigger 36% stock rout

Shares of PB Fintech, the parent of Policybazaar and Paisabazaar, plunged 36% to a 52-week low of Rs 1,207 on the NSE, wiping out over Rs 31,426 crore from its market capitalisation. The crash followed IRDAI's consultation paper proposing commission caps for insurance distributors, with co-founder Yashish Dahiya warning that general insurance revenue could fall to between one-third and 40% of current levels, potentially prompting slower hiring and a rethink of expansion plans. Amid the selloff, HDFC Mutual Fund bought a stake worth Rs 321 crore in the company.